Despite indications of a smooth passage of the Finance Bill, sentiment on the National Stock Exchange remained weak on news of an impending petroleum price hike. The NSE-50 Index recorded a loss of 16 points over the previous week's close.

Most pivotals, too, closed much lower than their previous week's close on the bourse. The last two days of the week, however, saw interest in software and banking sector stocks led by Bank of India which made its entry at the bourse on Wednesday.

The index, which had closed the previous week at 1069 points, fell sharply on Monday to 1045 points, recovered modestly to 1048 on Tuesday, only to close at 1044.40 points on Wednesday.

It recovered somewhat on Thursday to close at 1054.05 points but lost ground on Friday to close the week at 1053.35 points.

Reliance lost Rs 4 over the week. Closing the previous week at Rs 305.35, the scrip fell below Rs 300 to close on Monday at Rs 299.15. It closed on Tuesday at Rs 302.80, after moving in a narrow range for the next three days, closed the week at Rs 301.20.

State Bank of India lost Rs 6 over the week to close at Rs 308.25 against its previous week's close of Rs 314.15. The scrip fell sharply on Monday, losing Rs 13 to close at Rs 301.80. It staged a recovery over the next three days and closed on Thursday at Rs 309.60, only to fall again on Friday to close the week at Rs 308.25.

Bank of India, which opened for trading on Wednesday, gained Rs 7 in the three trading days. The scrip, which closed on Wednesday at Rs 66.80, witnessed hectic trading on Thursday and closed the day at Rs 73.50. The scrip recorded a modest gain on Friday to close the week at Rs 73.85.

Larsen & Toubro, too, lost over the week recording a loss of Rs 10 over its previous week's close of Rs 223. The scrip fell to a close of Rs 215.40 on Monday and stayed in that region for the better part of the week to finally close on Friday at Rs 213.70.

Telco recorded a loss of Rs 22 over the week, closing at Rs 372.45 against its previous week's close of Rs 394.20. The scrip fell sharply on Monday to a close of Rs 381.20, fell again on Tuesday to close at Rs 375.15 and closed the week at Rs 372.45.

Tisco lost Rs 4 over the week. The scrip, which had closed the previous week at Rs 181.45 lost Rs 8 on Monday to close at Rs 173.15, but recovered to a close of Rs 178.45 on Wednesday. It fell on the last day to close at Rs 177.15.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.